One thing the world has no shortage of is limited-edition Mustangs. I?m not sure they make numbers high enough to count how many ?special? Mustangs there have been over the years, but it?s somewhere between ?A gazillion? and ?X, where X=enough+1.? What?s a shame is that most of them are nothing more than silly tape-and-stickers packages. GT/California Special? Vinyl decals and some nice wheels. Shelby GT? Loud exhaust, filter-on-a-stick, a $10,000 Shelby badge and some chrome hood pins. Bullitt? A Mustang GT with less of the tacky Mustang GT stuff stuck on it. Just fabricated specialness that any gearhead can see through at first glance.

So when rumors started circulating that Ford would be bringing back the ?Boss? Mustang moniker, I didn?t get my hopes up. I was expecting more of the same tape-and-stickers shenanigans, with the end result of a Mustang that?s not better, just goofier looking and more expensive. Thankfully, I seem to be wrong.

For those of you that didn?t live through the sixties, or don?t remember them (some say if you remember them, you weren?t there!) this is not the first time that ?Boss 302″ has been etched on the side of a particularly nasty Mustang. The first Boss 302 (and big brother Boss 429) Mustangs were introduced in 1969, as a road-going homologation special for Trans-Am racing. To keep up with the more powerful Camaro Z/28′s, the Boss 302 used a high-compression, high-winding V8 that was a mixture of Windsor and Cleveland parts with worked heads, a free-breathing exhaust, and beefed up valvetrain and cooling to support race duty. While the big-block Boss 429 was homologated for roundy-roundy stock car racing, the lighter and more responsive Boss 302 endowed the Mustang with serious track presence, especially with the competition-style suspension and braking hardware. It was the car that put the name ?Parnelli Jones? on the map. And it?s back. Oh yes.

As you?re probably sick of hearing by now, the 2011 Mustang GT heaved out the ancient single-cam 3v 4.6L Modular V8 in favor of a (mostly) brand new all-aluminum 5.0L 32v V8. Which means that once again, the Mustang has a 302 under the hood. And the standard model?s no slouch -- 412bhp/390lb-ft of torque, a 6-speed manual transmission, low four-second 0-60 times. The new Boss 302 is designed to fit in the Mustang lineup between the impressive GT 5.0 and the absurd supercharged GT500, and on paper it seems to do that to great effect.

Things have been fiddled with properly under the hood. The 5.0L engine?s output jumps from 412bhp to 440bhp, and torque drops from 390 to 380lb-ft. The change in output and character are down mainly to two modifications: a new high-volume intake manifold, and more aggressive cam profiles combined with a reprogramming of the Ti-VCT cam phasing system. Ford powertrain engineers say the changes were designed to increase top-end power without sacrificing driveability or a smooth idle, as the Boss 302 is intended for street or track use.

The drivetrain is equally impressive. The 6-speed manual is actuated through a short-throw shifter, the final-drive ratio is raised to 3.73:1 for stronger acceleration, and the rear differential has carbon-fibre plates for longevity. Interestingly, a Torsen (Torque-Sensing) reactive rear limited slip diff is available packaged with Recaro seats, which seems like a good choice.

They?ve also done a lot of work with the exhaust system. The Boss 302 has a ?quad exit? setup, which brings back memories of the Mitsubishi VR-4′s ?variable exhaust note? system. The Boss has 2 exhaust outlets out back as well as two on the side, and the flow of exhaust gasses is controlled by a series of metal discs -- so most of the gasses come out the back, but you still get a nice amount of noise out the sides as well. Even more interesting is that Ford Powertrain expects owners to say ?Frog that, sidepipes!? and the system is configurable for full side-exit action for ?off road use only.? You know, computer generated, filmed on a closed road in Mexico, professional drivers do-not-attempt-at-home, wink wink nudge nudge.

Of course, it wouldn?t be a Boss Mustang if they just threw a bunch of parts at the motor and called it a day. It?s got to go ?round corners too! It?s got the typical suspension modifications -- higher springs rates at all four corners, lower static ride height, stiffer bushings, and a larger rear anti-roll bar. What?s really intriguing are the 5-setting adjustable dampers at each corner. Most adjustable dampers are a major pain in the rear to actually adjust -- usually you have to jack up the corner to unload the shock, pull out your bespoke perch tool, and fiddle with the damper in the fender well for ten minutes -- and that?s if you don?t have to remove the shock to adjust it in the first place! However, the dampers on the Boss are adjustable at the top of the shock towers on all four corners -- all you need is a straight screwdriver. Leave ?em at 2 for daily driving, crank ?em up to 5 for track duty, then put ?em back down to 1 for highway cruising. Why isn?t everything this simple?

As far as rolling stock and anchors go, the Boss 302 sports some serious rubber: 19″ lightweight wheels all around, 9″ wide in the front and 9.5″ wide in the rear. All four corners are shod with Pirelli PZero?s (255/40 front, 285/35 rear) for maximum grip on a street tire. Braking duties are handled by 14″ Brembo rotors clamped by 4-piston calipers up front, while standard GT rear brakes get more aggressive pads. The Boss 302 uses braided brake lines to eliminate flex for better stopping power and modulation.

It appears the Boss 302 has going fast covered, and of course it?s also got looking fast covered as well. It?s going to be hard to not notice one of these driving by, even if it didn?t have blaring side-pipe exhausts. The Boss gets a black-or-white colored roof panel matched to the C-stripe on the side, as well as an aerodynamic front splitter and rear spoiler. The foglight housings are blocked off, too. You can get a Boss 302 in any color you want, as long as it?s obnoxious: Competition Orange, Performance White, Kona Blue (my choice), Yellow Blaze Tri-Coat, and Race Red.

Inside, the Boss 302 gets the goods as well. Along with the aforementioned optional Recaro seats shared with the GT500, there?s an Alcantara-lined steering wheel, dark metallic finish on the IP and doors, and a black 8-ball shift knob. Even more important: Ford?s ripped out 11 pounds of sound deadening so you can actually hear how awesome that motor sounds.

How does it all add up? Well, Ford says the Boss 302 is at least 2 seconds a lap faster around a race track than the standard GT 5.0, which is obviously no slouch. They say it?ll lap Laguna Seca faster than a 2010 M3, as well. And if all this isn?t enough, there will be a limited production run Boss 302 Laguna Seca edition, which has greater body rigidity, a stiffer suspension setup, and the full aero package from the race-prepped Boss 302R cars that FRP campaigns.

As is the norm with debuts like these, no pricing or availability information has been announced. But since the car is labelled as a 2012 model, a good bet would be summer of next year when they start showing up in showrooms. So if you want a Mustang with more of an attitude, but don?t want a giant sledgehammer of a car like the GT500, it?d probably be a good idea to get your deposit in now.